Van Hulzen Asset Management LLC Acquires New Shares in Phillips 66 $PSX

Van Hulzen Asset Management LLC acquired a new position in Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,737 shares of the oil and gas company’s stock, valued at approximately $1,308,000.

Several other large investors also recently made changes to their positions in PSX. NFSG Corp lifted its position in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Axiom Investment Management LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $27,000. SWAN Capital LLC raised its position in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Compass Financial Management LLC acquired a new position in Phillips 66 during the second quarter worth $28,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Phillips 66 during the second quarter worth approximately $29,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 26th. Argus increased their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Citigroup reaffirmed a “neutral” rating on shares of Phillips 66 in a report on Thursday, August 6th. TD Cowen lifted their price target on Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 52,100 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the completion of the sale, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. This represents a 57.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president directly owned 27,537 shares in the company, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $241.88 on Tuesday. Phillips 66 has a twelve month low of $126.74 and a twelve month high of $246.95. The firm has a market capitalization of $96.51 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.18 and a beta of 0.68. The stock’s 50 day moving average is $200.25 and its 200-day moving average is $180.36. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, beating the consensus estimate of $7.50 by $1.91. The company had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same quarter in the prior year, the company posted $2.38 earnings per share. Sell-side analysts forecast that Phillips 66 will post 23.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is 28.95%.

Phillips 66 declared that its Board of Directors has initiated a share buyback plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 11.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.